What is your personal appetite for risk?
June 13, 2017
And could this impact your job?
Ian McGregor, Ph.D.
Personal and professional risk-taking
On a daily basis we all take personal risks – crossing the street, investing in the stock market, playing ice hockey, driving a car to work. Some risks may be greater than others (e.g. buying a house), and some can have very serious consequences (e.g. falling during a rock climbing trip).
We all fit somewhere along a broad spectrum of risk taking – from the high risk takers (big appetite for risk) to the low risk takers (more risk averse). And in general, if you display a certain risk tolerance in one sphere, that appetite/aversion behavior will likely be demonstrated elsewhere. It’s who you are.
So what has this got to do with your job? Essentially, your personal appetite for risk will impact your professional life by shaping your decision making. So for example, if you are a Sport Clubs coordinator and have a relatively low appetite for risk, this will likely impact how you manage the Sport Clubs program, and which types of Sport Clubs you are more comfortable with (either keeping or adding them). Alternatively, having a higher risk appetite means that you’ll likely embrace higher risk Clubs, and take more risks when deciding whether to add new Clubs.
Which is better? The answer comes later in article… Read more